Forecast
DXY Will Go Down From Resistance! Short!
Please, check our technical outlook for DXY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 106.563.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 105.718 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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USOIL Will Go Higher! Buy!
Here is our detailed technical review for USOIL.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 70.58.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 72.27 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GBPUSD Will Go Up! Long!
Take a look at our analysis for GBPUSD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.275.
The above observations make me that the market will inevitably achieve 1.282 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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AUDUSD Is Going Up! Long!
Please, check our technical outlook for AUDUSD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 0.634.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 0.639 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
GOLD is making a bullish rebound on the 4H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 2,667.233 level.
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USD/CAD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
The BB upper band is nearby so USD-CAD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.405.
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USD/JPY SHORT FROM RESISTANCE
Hello, Friends!
USD-JPY uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 151.868 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the USD/JPY pair.
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US30 Is Bullish! Buy!
Here is our detailed technical review for US30.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 44,204.8.
Considering the today's price action, probabilities will be high to see a movement to 45,600.0.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GOLD Is Very Bearish! Short!
Take a look at our analysis for GOLD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2,695.926.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2,617.334 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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CADJPY Will Fall! Sell!
Here is our detailed technical review for CADJPY.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 107.583.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 106.848 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPUSD: Expecting Bullish Continuation! Here is Why:
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current GBPUSD chart which, if analyzed properly, clearly points in the downward direction.
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CHFJPY Will Go Down! Sell!
Here is our detailed technical review for CHFJPY.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 172.362.
Considering the today's price action, probabilities will be high to see a movement to 171.702.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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USOIL BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
USOIL pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 12H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 66.99 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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EUR/USD SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
EUR/USD pair is trading in a local uptrend which know by looking at the previous 1W candle which is green. On the 4H timeframe the pair is going down. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 1.053 area.
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CAD/CHF BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
We are targeting the 0.617 level area with our short trade on CAD/CHF which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
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CHF/JPY SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
CHF/JPY is making a bullish rebound on the 2H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 170.982 level.
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